Corazon Mining Limited · ASX:CZN

Corazon Mining — Investor Presentation (October 2015)

35 slides from Corazon Mining's investor presentation, Oct 20, 2015

1. Slide 1: Company Presentation

   For personal use only Company Presentation ASX : CZN 20 October 2015 ASX: CZN | PAGE 1

2. Slide 2: Forward Looking Statements

   Forward Looking Statements  For personal use only This presentation has been prepared by Corazon Mining Limited (“Corazon”). It contains forecasts and forward looking statements which are not a guarantee of future performance and which involve certain risks. Actual results and future outcomes will

3. Slide 3: CZN as an Investment Opportunity

   CZN AS AN INVESTMENT OPPORTUNITY  Commodity Exposure For personal use only  Nickel-Copper-Cobalt in Canada  Looming nickel deficit – price recovery forecasted by market analysts  Project Maturity and Quality  Brown-field exploration play - majority of the costly and risky generative exploration

4. Slide 4: Nickel Market Outlook

   NICKEL MARKET OUTLOOK  Nickel supply/demand fundamentals are strong – forecast to go from one For personal use only of the worst performing metals to the best performing metal  Key Risks  Chinese nickel pig-iron (NPI) production performs better than expected  Chinese stainless steel production i

5. Slide 5: Nickel Market Outlook

   NICKEL MARKET OUTLOOK  Nickel Inventory at a turning point For personal use only  LME stockpiles are high – nickel metal prices are low  Primary nickel consumption is growing, outstripping new supply  Nickel Market is entering deficit LME Stockpiles (kt) & Nickel Price (USD/t) Total global refin

6. Slide 6: Nickel Market Outlook

   NICKEL MARKET OUTLOOK  Chinese stainless remains major nickel demand driver For personal use only  Chinese stainless steel industry & global alloy + superalloy sector expected to continue to expand capacity  Chinese nickel ore inventories are declining  Chinese nickel laterite stockpiles and NPI

7. Slide 7: Lynn Lake Opportunity

   LYNN LAKE OPPORTUNITY Major Canadian Nickel Projects Unfinished Business For personal use only Voiseys Bay  1976 closure of one of Canada’s major nickel producing Lynn Lake regions, following post-Vietnam War decline in US demand for metal  Compelling exploration play in a fertile environment Thom

8. Slide 8: Infrastructure Advantages

   INFRASTRUCTURE ADVANTAGES For personal use only Airstrip Mine Tailings EXCELLENT Lynn Lake Township INFRASTRUCTURE All year access to mine area Township, shops, hospital Abundant hydro- electricity and water Sealed airstrip Road or rail access to Lynn Lake Project smelters Claim Boundary No environm

9. Slide 9: Past Mine Production & Resources

   PAST MINE PRODUCTION & RESOURCES For personal use only Mined 18.4Mt @ 0.86 %Ni & 0.44 %Cu Resource 6.7Mt @ 0.84 %Ni & 0.39 %Cu MAJOR NICKEL COPPER A Plug Mine SULPHIDE CAMP Mined 1.7Mt @ 2.50 %Ni & 1.15 %Cu Multiple gabbro, Resource 2.7Mt @ 0.99 %Ni & 0.43 %Cu norite & peridotite plugs within EL Plu

10. Slide 10: Geology – Lynn Lake Mining Centre

    GEOLOGY – LYNN LAKE MINING CENTRE LARGE MINERALISED SYSTEM For personal use only N  Multiple orebodies, structurally complex system A Plug A Shaft  Large remnant resources and drill defined mineralisation  Current JORC resource* grades comparable to historical production grades  Mining Studies l

11. Slide 11: Current Mining Studies

    CURRENT MINING STUDIES POSITIONING LYNN LAKE FOR DEVELOPMENT For personal use only LYNN LAKE IS A LARGE TONNAGE – LOW COST MINING PROPOSITION AN IMPROVED NICKEL PRICE IS CRITICAL FOR POTENTIAL DEVELOPMENT OF REMNANT RESOURCES  Studies being conducted at long-term metal price forecasts  Indicative

12. Slide 12: Southern Area – Mining Studies Focus

    SOUTHERN AREA –MINING STUDIES FOCUS A Plug For personal use only O Resource 2.7Mt @ 0.82 %Ni, 0.37 %Cu North N Resource 3.7Mt @ 0.85 %Ni, 0.41 %Cu Zinc Xenolith – VMS ‐ Drilling 1.83m @ 10.65 %Zn 2.44m @ 29.00 %Zn 0.91m @ 11.20 %Zn Gods Lake Deposit – VMS ‐ Drilling 8.5m @ 8.7 %Zn, 0.3 %Cu, 0.2 g/tA

13. Slide 13: Large Mineralised System

    LARGE MINERALISED SYSTEM For personal use only North EL Mine Aerial Photo Mine Area Plan View EL Mine A Plug Deposits Mined 1.7Mt @ 2.5% Ni, 1.15% Cu 2000 foot level CZN High-Grade Discovery 2011 N, O Deposits Drill Hole Traces - Mine Area Cross-Section View (west) Scale = 1 Km Grid Lines ASX: CZN |

14. Slide 14: The EL Deposit - Depth Potential

    THE EL DEPOSIT ‐ DEPTH POTENTIAL For personal use only -700 mbs Discovery Hole XND001W1 23.75 m @ 3.34% Ni & 1.54% Cu Deepest Result CRZ012 -800 mbs 44.75m @ 1.55%Ni & 0.65%Cu Including:- 3.85m @ 2.83%Ni & 0.24%Cu 11.03m @ 2.31%Ni & 1.01%Cu 11.51m @ 2.37%Ni & 0.78%Cu Drill hole Cross-Section Looking

15. Slide 15: Recent Discoveries – Mining Centre

    RECENT DISCOVERIES – MINING CENTRE MODERN EXPLORATION METHODS For personal use only N DELIVER RESULTS WITHIN MINE AREA A Plug A Shaft 2008  Disco (Maxwell) - Western Areas NL (ASX: WSA) 18m @ 1.5% Ni, 0.70% Cu & 0.040% Co from 96m Farley Shaft 2010 ‘O’ Deposit  Tango – Prophecy Resources Corp (TSX

16. Slide 16: Disco Discovery

    DISCO DISCOVERY For personal use only INDICATION OF ‘A’ PLUG POTENTIAL  First discovery on the eastern side of A Plug  Open in all directions  Shallow  Drilled to a depth of 274m Disco Deposit  Strike +100m  Average width ~ 16m  Significant IP geophysical anomaly at depth below drilling ‘O’ D

17. Slide 17: Disco Discovery

    DISCO DISCOVERY For personal use only Geophysical anomaly at depth Cross Section Drill Hole Intercepts LLN‐037 ‐ 11.7m @ 0.6 %Ni, 0.6 %Cu LLN‐036 ‐ 9.1m @ 1.2 %Ni, 0.8 %Cu LLN‐035 ‐ 8.8m @ 1.3 %Ni, 1.0 %Cu LLN‐034 ‐ 15.1m @ 1.0 %Ni, 0.6 %Cu After Kallfa and Kapllani ‐ Matrix GeoTechnologies Ltd (201

18. Slide 18: Additional 'A' Plug Targets

    ADDITIONAL ‘A’ PLUG TARGETS For personal use only INDICATION OF ‘A’ PLUG POTENTIAL Untested Targets (red)  High quality surveys and innovative processing in 2010 defined numerous targets which have the potential to add to existing resources Mine Stopes Disco Deposit (yellow)  33 high-priority dril

19. Slide 19: A New Look at a Prospective Area

    A NEW LOOK AT A PROSPECTIVE AREA TARGET GENERATION Milligan Geology ‐ 1957 For personal use only  Corazon collating exploration and mining data from 1950’s to current day A Plug  New science and new technology critical in optimising this data EL Plug  Difficult terrain, targets are predominantly

20. Slide 20: A New Look at a Prospective Area

    A NEW LOOK AT A PROSPECTIVE AREA LYNN LAKE IS UNIQUE For personal use only Milligan Geology ‐ 1957  Circular to elliptical form of the intrusions, punctuated with smaller “pipe-like” massive sulphide bodies suggests that this area is central to a major mantle magmatic plumbing A Plug system that ga

21. Slide 21: Identifying Prospective Intrusions

    IDENTIFYING PROSPECTIVE INTRUSIONS ε Nd (T) 1873 Sample # Location Lithology / mineral Ma LYNN LAKE IS UNIQUE IN THE GREENSTONE BELT For personal use only GP‐7 GP‐7 Wood Lake‐Sask. Wood Lake‐Sask. Feldspathic pyroxenite PL 3.403 4.371 Pristine Depleted ε NEODYMIUM ISOTOPIC RESULTS Mantle Composition

22. Slide 22: Fraser Lake Complex (FLC)

    FRASER LAKE COMPLEX (FLC) Past exploration focused on IS THIS ANOTHER LYNN LAKE? For personal use only western margin of FLC  “Mine-set” – all A Plug mines Sister Plug to the A Plug on western side of intrusion Has all the right characteristics to host  Extensive barren sulphide nickel sulphide de

23. Slide 23: Fraser Lake Complex (FLC)

    FRASER LAKE COMPLEX (FLC) New FLC targets being THE DIGITAL CAPTURE OF 1960’S & 1970’S For personal use only generated GEOPHYSICAL DATA PROVIDES  Reprocessing of geophysical data identify the central and A HUGE WINDFALL FOR CORAZON eastern parts of the FLC as prospective – not the previously target

24. Slide 24: Fraser Lake Complex (FLC)

    FRASER LAKE COMPLEX (FLC) New FLC targets being CORAZON IS COLLATING A HUGE For personal use only generated DATABASE OF MODERN GEOPHYSICS  Reprocessing of geophysical FOR THE REGION data identify the central and eastern parts of the FLC as prospective – not the previously targeted western Detailed

25. Slide 25: Fraser Lake Complex

    FRASER LAKE COMPLEX Mapping (Dr J Hulbert 1974) Current Initial Thoughts – Work in For personal use only FLC Outline Progress  Central and eastern side of the FLC is deeper Drill Hole in the system and possibly covers the root of the intrusion  Geochemically the east is more mafic/ultramafiic  Ma

26. Slide 26: EL Plug – Highlighted by Modern Processing

    EL PLUG – HIGHLIGHTED BY MODERN PROCESSING Image of Un‐Corrected Absolute Gravity Values & Station Locations Ground Magnetic Image & Drill Hole Collars For personal use only EL Deposit 1947 discovery hole EL Mine 1.7Mt @ 2.50 %Ni 183m @ 4.7 %Ni & 1.7 %Cu & 1.15 %Cu EL Plug & Mine I50 Prospect I50 Pr

27. Slide 27: Summary of Lynn Lake Opportunity

    SUMMARY OF LYNN LAKE OPPORTUNITY  Corazon has consolidated one of Canada’s most prolific historic nickel For personal use only producing regions  Large resource base – a great foundation for development  Historic and recent drilling has identified resource upside potential  Recent discoveries no

28. Slide 28: Current Activities

    CURRENT ACTIVITIES  Mining and Processing Studies For personal use only  Continuing to refine financial models and identify cost saving strategies  Studies will identify preferred processing options(s)  Exploration  Two major fronts:  Near mine – resource additions  New deposits / new discove

29. Slide 29: Corporate Overview

    CORPORATE OVERVIEW | ASX:CZN For personal use only Structure Company Focus Market Cap. @ 0.5 cps A$ 2.2M Lynn Lake development opportunity Shares on Issue # 441.6M Unlisted Options on Issue # 30M • 83,000t contained nickel • 37,800t contained copper Cash (as at 30/6/15) A$ 1.8M 52 week share trading

30. Slide 30: Thank You

    For personal use only THANKYOU Brett Smith Managing Director Corazon Mining Limited P: +61 (8) 6142 6366 James Moses Media and Investor Relations P: +61 (0) 420 991 574 E: james@mandatecorporate.com.au Corazon Mining Limited T: +61 (8) 6142 6366 A: Level 1, 350 Hay Street, Subiaco WA 6008 | P: PO Bo

31. Slide 31: Appendixed Information

    For personal use only APPENDIXED INFORMATION ASX: CZN | PAGE 31

32. Slide 32: Consolidated Mineral Field

    CONSOLIDATED MINERAL FIELD For personal use only Lynn Lake Township A Plug – Main Mine Area Victory Nickel Agreement Mined 18.4Mt @ 0.86 %Ni & 0.44 %Cu Project Area Dunlop Agreement EL Plug – Highest Grade Mine Project Area Mined 1.7Mt @ 2.50 %Ni & 1.15 %Cu Total Project Area ~ 70 km2 ASX: CZN | PAG

33. Slide 33: JORC Resource – A Focus on Grade

    JORC RESOURCE – A FOCUS ON GRADE Lower Cut-off Grade Contained Metal Grade For personal use only Deposit Tonnes NIEQ % Ni % Ni % Cu % Ni Tonnes Cu Tonnes Indicated Resource Category EL Upper 0.4 1,120,000 0.77 0.34 8,600 3,800 EL Lower 0.6 676,000 0.83 0.40 5,600 2,700 N 0.8 2,990,000 0.86 0.41 25,7

34. Slide 34: NI 43-101 Resource

    NI 43‐101 RESOURCE Summary ‐ A Plug NI 43‐101 Resource1 For personal use only N, O & G Deposits, Lynn Lake, February 2010 Grade Contained Metal Deposit COG Ni% Eq2 Tonnes3 Tons Ni% Cu% Ni% Eq2 Tonnes Ni Tonnes Cu Measured, Indicated & Inferred Resource Categories N, O, G 0.4 28,098,866 30,973,698 0.

35. Slide 35: Competent Person Statement

    Competent Person Statement The information in this report that relates to Exploration Results and Mineral Resources for the A Plug deposits at the Lynn Lake For personal use only project is based on information compiled by Mr Neal Leggo who is a Member of the Australian Institute of Geoscientists. M

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